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20110715
20110715
Search Results 0 to 8 of about 9 (some duplicates have been removed)
down so much debt. we first heard about this on npr, and had no idea it was going on. here's abc's jon karl. >> reporter: we took a journey totohe heart of the u.s. mint in philadelphia. down long corridors, into oversized elevators and through doors, lots of doors, for a lesson on how to lose money while making money. it sounds a little bit like las vegas around here, except, the coins never stop coming. this is the presidential dollar coin. they're making them to honor every dead president, but nobody seems to want them. not even the one for rutherford b. hayes. rutherford b. hayes, hot off the press. literally, these coins are still warm. made of manganese brass, they cost 32 cents a pop to make. the mint can make 1.8 million a day. do the math. that's nearly $600,000 a day. because almost nobody uses these things, most go directly into storage. we found a bunch of them 100 miles down the road in a vault. here at the federal reserve in baltimore, the coins are packed into plastic bags stacked one on top of each other all the way up and down this aisle. several aisles of them, millio
dollars down the drain. thanks to npr we know about loads of unused spare change piling up as the nation stares down its debt. abc's jon karl explains. >> reporter: we took a journey to the u.s. mint in philadelphia for a lesson in how the government is losing money by making money. this is the presidential dollar coin. congress ordered the mint to make millions of them to honor every dead president but nobody seems to want them. they cost 32 cents a pop to make. the mint makes nearly 2 million of them every day. do the math. about 600,000 dollars a day to make them. because almost nobody uses these things, most go directly into storage. we found a bunch of them 100 miles down the road in a vault. here at the federal reserve in baltimore, the coins are packed into plastic bags stacked one on top of each other all the way up and down this aisle several aisles of them, millions and millions of dollars in presidential coins. federal reserve says they are piling up so quickly they are spending $650,000 to build a new vault in dallas to hold them. shipping the coins there will cost another $3
not to vote to raise the debt ceiling. but even norquist now has told npr he's in favor of raising the debt ceiling in return for spending restraint. do but regret signing that pledge? >> the pledge in question is a pledge not to raise taxes. the problem in washington is they spend too much. and that needs to be the solution. we've got to attack the overspending. >> do you see repealing tax cuts the same as raising taxes? >> the house republican budget actually proposes to rid ourselves of quite a few loopholes and lower the rate and have a net no new revenue. but republicans aren't against new revenue. we do that by getting washington off the backs of job creators across america and get this economy going again. we have a problem. the economy is going the wrong way. send spending is going up. the president has to request a huge debt increase. >> that's all happening under the bush era tax cuts. you're arguing that those tax cuts are what sparked job creation, we know we've seen the highest unemployment rate in generation under those bush era tax cuts. we know that american corporations are
are wondering where the government can cut costs. the npr came up with one idea. >> each day the u.s. treasury mints nearly $2 million in coins. coins that mostly go directly into storage. abc's john karl checked it out. >> reporter: we took a journey to the u.s. mint in philadelphia where they seem to have more doors than "get smart." for a lesson in how the government is losing money by making money. it sounds a little bit like las vegas around here except the coins never stop coming. this is the presidential dollar coin. congress ordered the mint to make millions of them to honor every dead president. but nobody seems to want them. rutherford b. hayes. hot off the press, literally, these coins are still warm. made of manganese brass, they cost nearly 32 cents a pop to make. the mint makes nearly 2 million of them every day. do the math. about $600,000 a day to make them. and each one of these bags, 140,000 coins, $140,000, more than 2,000 pounds. because almost nobody uses these things, most go directly into storage. we found a bunch of them 100 miles down the road in a vault. here at the f
. on the other hand, we don't want gaps in consumer protection. both cnn and npr have reported that banks which are not within fcc's jurisdiction are selling information that they collect from credit and debit purchases. that is, they are selling their consumers entire purchase histories to retailers. also privacy legislation -- if such legislation is limited to a select group of data collected. for example, if privacy legislation is limited to companies within the ftc's jurisdiction, as are many of the current proposals, the house and the senate, retailers such as amazon would be limited in collecting and selling data about a consumers shopping habit. citibank would be totally free to collect and sell that same information to amazon. do any of you have any concerns about such a scenario? >> i can address the question, and i will do it in reference to the draft bill that was discussed earlier, the data act, where the agency does have a concern if drafted. breach notification, there's a carpet for entities that we subject to the ftc's jurisdiction so we do have a concern about that gap. >> some
, ceo of the aspen institute. senior business editor at npr, and we will skip over our speaker for just a moment, melissa is our fantastic speakers' committee chair and for that we will be eternally grateful. get over our second speaker for a moment, and we have a senior press secretary with the natural resources defense council and the organizer of today's event. we are told there is a vote and we are awaiting another guest of the speaker, congressman brad miller of north carolina. that will add to the drama today, whether he actually makes it to the head table. andrea stone of huffington post , the washington director of reporters without borders and a vital member of our press freedom committee, an editor at large who has been blogging for huffington post since day one. now, please, a larger round of applause for everyone. if there were a king and queen of on-line journalism, our headline duo of guest speakers could be considered candidates or members of the royal family. it is not just another reshaping of aol, but a redefinition of the on-line news business. less than six months la
Search Results 0 to 8 of about 9 (some duplicates have been removed)